LOOK AHEAD: Eurozone Timeline of Key Events (Times BST)

Aug-14 05:18
Date Time Country Event
14-Aug 745 FR HICP (f)
14-Aug 1000 EU Industrial Production / GDP (p)
16-Aug 1000 EU Trade Balance
20-Aug 700 DE PPI
20-Aug 900 EU EZ Current Account
20-Aug 1000 EU HICP (f)
20-Aug 1000 EU Construction Production
22-Aug 815 FR S&P Global Services/ Manufacturing/ Composite PMI (p)
22-Aug 830 DE S&P Global Services/ Manufacturing/ Composite PMI (p)
22-Aug 900 EU S&P Global Services/ Manufacturing/ Composite PMI (p)
22-Aug 1500 EU Consumer Confidence Indicator (p)
23-Aug 745 FR Manufacturing Sentiment
23-Aug 900 EU ECB Consumer Expectations Survey
24-Aug 1725 EU ECB's Lane in panel on transmission of monetary policy
25-Aug 1600 EU ECB's Cipollone in panel at the Rimini Meeting
26-Aug 800 ES PPI
26-Aug 900 DE IFO Business Climate Index
26-Aug 1400 BE BNB Business Sentiment

Historical bullets

LOOK AHEAD: Eurozone Timeline of Key Events (Times BST)

Jul-15 05:18
Date Time (BST) Country Event
15-Jul 800 EU ECB's Lagarde and Cipollone in Eurogroup meeting
15-Jul 1000 EU Industrial Production
16-Jul 800 EU ECB's De Guindos in ECONFIN meeting
16-Jul 900 EU ECB Bank Lending Survey
16-Jul 900 IT Italy Final HICP
16-Jul 1000 DE ZEW Index
16-Jul 1000 EU Trade Balance
17-Jul 1000 EU HICP (f)
18-Jul 1000 EU Construction Production
18-Jul 1315 EU ECB Governing Council Meeting
18-Jul 1345 EU ECB Monetary Policy Press Conference
18-Jul 1515 EU Lagarde presents MonPol decision on podcast
19-Jul 700 DE PPI
19-Jul 900 EU EZ Current Account
23-Jul 800 EU ECB's Lane at ECB/IMF conference in Frankfurt
23-Jul 1500 EU Consumer Confidence Indicator (p)

US TSYS: Tsys Futures Steady After Opening Lower, Powell To Speak Later

Jul-15 05:18
  • Treasury futures are steady after opening trading lower, front-end quickly erased most of the early losses with TUU4 trading just -0-00¾ at 102-17⅞, while TYU4 is -0-09 at 110-29.
  • Volumes surged this morning, although tapered off as the day progressed we still sit average recent average with TU 68k, FV 105k & TY 164k
  • Cash trading is close today with Japan out, but looking at moves in futures the treasury curve has bear steepened, while the long-end is 4-6bps cheaper.
  • Looking across volatility markets, despite the weekend events haven markets have been relatively stable with the VIX little changed. Implied volatility for September TY futures has bounced of yearly lows of 5.41 and now trades at 5.71
  • Projected rate cut pricing into year end look firmer vs. early Friday (*): July'24 at -6.5% w/ cumulative at -1.6bp at 5.313%, Sep'24 cumulative -25.2bp (-24.1bp), Nov'24 cumulative -41.4bp (-38.5bp), Dec'24 -62.9bp (-59.6bp).
  • Today, Fed Chair Powell makes his final scheduled appearance ahead of the pre-July FOMC meeting communications blackout period & Empire Manufacturing

EURGBP TECHS: Pierces Key Support

Jul-15 05:11
  • RES 4: 0.8586 76.4% retracement of the Apr 23 - Jun 14 bear leg
  • RES 3: 0.8568 High May 20
  • RES 2: 0.8485/99 50-day EMA / High Jul 1
  • RES 1: 0.8453 20-day EMA
  • PRICE: 0.8396 @ 06:10 BST Jul 15
  • SUP 1: 0.8389 Intraday low
  • SUP 2: 0.8388 Low Aug 17 2022
  • SUP 3: 0.8366 2.236 proj of the Apr 23 - 30 - May 9 price swing
  • SUP 4: 0.8322 2.618 proj of the Apr 23 - 30 - May 9 price swing

A bear cycle in EURGBP remains intact and the cross has traded lower today.The sell-off last week resulted in a print below key support at 0.8397, the Jun 14 low and the bear trigger. Clearance of this level would resume the medium-term downtrend and pave the war for an extension towards 0.8366, a Fibonacci projection. Initial firm resistance is seen at 0.8453, the 20-day EMA.